ALSO READMangalore Chemicals & Fertilizers resumes operations of Ammonia, Urea and ABC plants Mangalore Chemicals & Fertilizers to hold board meeting Mangalore Chemicals & Fertilizers reports standalone net profit of Rs 4.69 crore in the March 2017 quarter MCFL net profit at Rs 8 cr in Oct-Dec qtr Tata Chemicals Q3 net up 32% at Rs 318.39 cr; sales decline
Mangalore Chemicals and Fertilisers Ltd (MCFL) today reported a net profit of Rs 4.68 crore for the quarter ended March 2017.
It had posted a net loss of Rs 5.11 crore in the year ago period, the company said in a regulatory filing.
Income from operations fell to Rs 545.45 crore in the fourth quarter of 2016-17 from Rs 807.44 crore in the corresponding period of the previous year.
During the full 2016-17 fiscal, the company posted a net profit of Rs 19.41 crore against a net loss of Rs 240.12 crore in 2015-16.
Income from operations fell to Rs 2,502.14 crore last fiscal from Rs 2,982.07 crore in 2015-16.
The board also recommended a dividend of Re 0.50 per equity share of Rs 10 each for the financial year ended March 31, 2017.
The Zuari-group controlled MCFL has a urea plant near Mangalore port with an annual capacity of about four lakh tonnes three lakh tonnes of phosphatic fertilisers.
Saroj Poddar-led Zuari group has 53 per cent stake in the company, while Vijay Mallya's UB group has 22 per cent shareholding.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)